<p>BILBAO and MADRID, Spain, July 23, 2013 /PRNewswire via COMTEX/ --Kutxabank and IBM /quotes/zigman/230066/quotes/nls/ibm IBM +0.46% have announced today a ten-year, over 200 million Euros value, strategic services agreement. Under the agreement, IBM will transform and optimize the bank's technology infrastructure, which will help drive the bank's strategy. The new strategic alliance is expected to gain important savings for Kutxabank over the term of the agreement.</p><p>Kutxabank integrated its technology after merging the Spanish saving banks BBK, Kutxa, Caja Vital and CajaSur. IBM will focus on successfully achieving part of the restructuring process.</p><p>Through this strategic outsourcing agreement, IBM will innovate and develop the bank's IT infrastructure and will provide branch offices and ATM maintenance, generating Kutxabank greater cost efficiencies and business flexibility to better adapt to market changes.</p><p>For Kutxabank President, Mario Fernandez, the agreement with IBM will position Kutxabank "at the cutting edge of technology at service of the increasing clients and market demands and will generate wealth and new investment in Euskadi, essentially in Gipuzkoa."</p><p><a href="http://www.marketwatch.com/story/spanish-bank-kutxabank-signs-a-strategic-alliance-with-ibm-to-transform-it-infrastructure-2013-07-23">Keep reading...</a></p>